The Trade Facilitation and Trade Enforcement Act (TFTEA) was signed into law in February of this year and brought in regulatory changes in several areas, including tax and duty exemptions at the U.S. border.
Included in the TFTEA is an amendment to Section 321 of the Tariff Act which provides that eligible entries – those valued below a certain dollar amount – can be imported free of taxes and duties. Up until March of this year, the threshold for such an exemption – the de minimis value – was $200USD. Under the recent amendment, this value has been increased to $800USD.[Read More]